TIME Time Finance Plc

    1 pm plc ("1pm" or the "Company")

                   Trading update and appointment to the board

12 February 2007

1pm,  the  AIM  quoted leasing company specialising in small  business  finance,
announces  today  a trading update and the appointment of Mike Johnson  as  non-
executive chairman of 1pm.

Trading Update

Following  flotation, a wide ranging and detailed business review  was  embarked
upon which led to an examination of every element of the operation necessary  to
take  the  company forward in the most efficient way.  As part of this  process,
the Company visited a large number of brokers who were keen to refer business to
1pm;  consequently  there  is  significant demand for  the  Company's  services.
However, as is often the case when dealing with large financial institutions, it
has  taken  more time to arrange additional borrowing facilities  to  meet  this
demand  than originally anticipated.  As a result, revenues and profits will  be
lower than market expectations in the current financial year.  The Directors are
confident that new facilities will be put in place and that new business  levels
will rise significantly during 2007.

The  first new facility that 1pm has secured is with Siemens Financial  Services
block  discounting  division.  This facility is of �0.5m.   The  Company  is  in
process  of securing new facilities with other lending banks and will  keep  the
market informed of progress.

Andrew  Dearden,  Block Discounting Manager, Siemens Financial  Services,  said,
"1pm  is  an  extremely  well run and professional outfit  with  some  excellent
customers. They are exactly the type of service orientated organisation we  want
to be associated with and we look forward to cementing the relationship over the
coming months and years. "

Appointment of Mike Johnson as Non-Executive Chairman

The  Company is also delighted to welcome Michael Richard Johnson, aged  63,  as
Non-Executive  Chairman to the board of 1pm. Mr Johnson was  appointed  as  Non-
Executive  Chairman to the board on Friday 9 February 2007.  Mike, a  successful
entrepreneur  with over 30 years' experience in the asset finance industry,  has
been  brought in to help accelerate the growth of the business. His  appointment
will  greatly strengthen the management team of 1pm and represents a major  coup
for the company.

Mike,  was  managing director and founder of Suffolk Street Group plc,  and  was
responsible  for  creating  its  small ticket leasing  vehicle  Equitable  Asset
Finance  and ultimately negotiating the group's sale to First Sierra Finance  of
Houston  Texas. He then developed Haydock Asset Finance for the Haydock  Finance
Group  before  co-founding One World Leasing, where he was  Executive  Chairman,
spearheading the Group's entry strategy in the small ticket market place.

Mr.  Johnson was previously a director of both One World Leasing SPV Limited and
One World Leasing Limited.

Mike  replaces Steve Grey as Chairman of the company, but Steve will  remain  on
the Board as a non-executive director, where he continues to provide the benefit
of his many years' experience at board level for Abbey Business and GE Capital.

Mike  Johnson has confirmed that there are no further disclosures required under
Schedule 2 paragraph (g) of the AIM Rules.


Contact details:

For further information contact:

1pm plc                                   08707 397 397
John Stickley

SVS Securities plc                        020 7638 5600
Ian Callaway
Peter Manfield

ARM Corporate Finance Limited             020 7512 0191
Nick Harriss

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